SME Implementation Group
The mission of the SME Implementation Group is to support the international adoption of the IFRS for SMEs and monitor its implementation.
The SMEIG has two main responsibilities:
- Consider implementation questions raised by users of the IFRS for SMEs, decide which ones merit published implementation guidance, reach a consensus on what that guidance should be, develop proposed guidance in the form of questions and answers (Q&As) that would be made publicly available to interested parties on a timely basis, and request the IASB to approve the Q&As for issue. The Q&As are intended to be non-mandatory guidance that will help those who use the IFRS for SMEs to think about specific accounting questions.
- Consider, and make recommendations to the IASB on the need to amend the IFRS:
(i) for implementation issues that cannot be addressed by Q&As, and
(ii) for new and amended IFRSs that have been adopted since the IFRS for SMEs was issued or last amended.
The Trustees of the IFRS Foundation are currently inviting nominations of suitable candidates for membership of the SME Implementation Group (SMEIG). Nominations and applications are invited by 28 February 2014 to the following e-mail address: email@example.com. Candidates should explain their knowledge and experience in the financial reporting of SMEs and submit any additional material they consider relevant to support their application to be a member of the SMEIG.